The Central Bank of Nigeria raised the benchmark rate by 50 basis points
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures are aimed at fighting inflation and stabilizing the Nigerian economy. According to the governor of the bank, Olami Cardoso, the reforms implemented have restored the credibility of the bank. […]
